Trade involves the transfer of goods or services from one person or entity to another in exchange for money. A system or network that allows trade is called a market. An early form of trade, saw the direct exchange of goods and services for other goods and services. Barter involves trading things without the use of money. One bartering party started to involve precious metals, which gained symbolic as well as practical importance. Modern traders negotiate through a medium of exchange, such as money; as a result, buying can be separated from earning. The invention of money simplified and promoted trade. Trade between two traders is called bilateral trade, while trade involving more than two traders is called multilateral trade. Trade exists due to specialization and the division of labor, a predominant form of economic activity in which individuals and groups concentrate on a small aspect of production, but use their output in trades for other products and needs. Trade exists between regions because different regions may have a comparative advantage in the production of some trade-able commodity—including production of natural resources scarce or limited elsewhere, or because different regions' sizes may encourage mass production.
In such circumstances, trade at market prices between locations can benefit both locations. Retail trade consists of the sale of goods or merchandise from a fixed location, online or by mail, in small or individual lots for direct consumption or use by the purchaser. Wholesale trade is defined as traffic in goods that are sold as merchandise to retailers, or to industrial, institutional, or other professional business users, or to other wholesalers and related subordinated services. Commerce is derived from the Latin commercium, from cum "together" and merx, "merchandise."Trade from Middle English trade, introduced into English by Hanseatic merchants, from Middle Low German trade, from Old Saxon trada, from Proto-Germanic *tradō, cognate with Old English tredan. Trade originated with human communication in prehistoric times. Trading was the main facility of prehistoric people, who bartered goods and services from each other before the innovation of modern-day currency. Peter Watson dates the history of long-distance commerce from circa 150,000 years ago.
In the Mediterranean region the earliest contact between cultures were of members of the species Homo sapiens principally using the Danube river, at a time beginning 35,000–30,000 BCE. Some trace the origins of commerce to the start of transaction in prehistoric times. Apart from traditional self-sufficiency, trading became a principal facility of prehistoric people, who bartered what they had for goods and services from each other. Trade is believed to have taken place throughout much of recorded human history. There is evidence of the exchange of flint during the stone age. Trade in obsidian is believed to have taken place in Guinea from 17,000 BCE; the earliest use of obsidian in the Near East dates to the Middle paleolithic. Trade in the stone age was investigated by Robert Carr Bosanquet in excavations of 1901. Trade is believed to have first begun in south west Asia. Archaeological evidence of obsidian use provides data on how this material was the preferred choice rather than chert from the late Mesolithic to Neolithic, requiring exchange as deposits of obsidian are rare in the Mediterranean region.
Obsidian is thought to have provided the material to make cutting utensils or tools, although since other more obtainable materials were available, use was found exclusive to the higher status of the tribe using "the rich man's flint". Obsidian was traded at distances of 900 kilometres within the Mediterranean region. Trade in the Mediterranean during the Neolithic of Europe was greatest in this material. Networks were in existence at around 12,000 BCE Anatolia was the source for trade with the Levant and Egypt according to Zarins study of 1990. Melos and Lipari sources produced among the most widespread trading in the Mediterranean region as known to archaeology; the Sari-i-Sang mine in the mountains of Afghanistan was the largest source for trade of lapis lazuli. The material was most traded during the Kassite period of Babylonia beginning 1595 BCE. Ebla was a prominent trading centre during the third millennia, with a network reaching into Anatolia and north Mesopotamia. Materials used for creating jewelry were traded with Egypt since 3000 BCE.
Long-range trade routes first appeared in the 3rd millennium BCE, when Sumerians in Mesopotamia traded with the Harappan civilization of the Indus Valley. The Phoenicians were noted sea traders, traveling across the Mediterranean Sea, as far north as Britain for sources of tin to manufacture bronze. For this purpose they established trade colonies. From the beginning of Greek civilization until the fall of the Roman empire in the 5th century, a financially lucrative trade brought valuable spice to Europe from the far east, including India and China. Roman commerce allowed its empire to endure; the latter Roman Republic and the Pax Romana of the Roman empire produced a stable and secure transportation network that enabled the shipment of trade goods without fear of significant piracy, as Rome had become the sole effective sea power in the Mediterranean with the conquest of Egypt and the near east. In ancient Greece Hermes was the god of trade and weights and measures, for Romans Mercurius god of merchants, whose festival was celebrated by traders on the 25th day o
University of Libya
The University of Libya was a public university based in Tripoli and Benghazi, Libya. The university was established in 1955 and disestablished in 1973, when its colleges were split into two new universities: the University of Tripoli in Tripoli, the University of Benghazi in Benghazi. Despite its difficult economic situation at the time, in the 1950s the Libyan government decided to found a university. Towards that goal it sent a delegation to Egypt in 1955 to meet the then-prime minister Gamal Abdul Nasser, seek his permission for the loan of some lecturers working in Egypt; the Egyptian government agreed, promised to pay the salaries of the four borrowed lecturers for four years. The U. S. nominated Professor Majid Khadduri to be the dean of faculty of Literature, took the burden of paying him. A royal decree was issued on 15 December 1955 for the founding of the university; the first faculty to be formed was the Faculty of Literature in Benghazi, the royal palace "Al Manar", from which King Idris I of Libya declared its independence on 24 December 1951, was assigned to be the campus.
The next step was of course to extend the university and establish new faculties: Faculty of Science, Tripoli, 1956. Faculty of Economics, Benghazi, 1957. Faculty of Law, Benghazi, 1962. Faculty of Agriculture, Tripoli, 1966. Faculty of Medicine, Benghazi, 1970. On 6 October 1968, a celebration was held for the founding of a new campus in Garyounis district of Benghazi; the celebration was attended by King Idris I, Wanis al-Qaddafi, the Prime Minister, Abdel Moula Dughman, President of the university. In August 1973 the university split to form two new universities: the Tripoli Campus formed the University of Tripoli. A list of presidents of the University of Libya: Mahmud El Bishti Abdel Jawad el Freitees Bakry Gaddura Mutapha Bayo Abdel Moula Dughman Omar et Tumi esh Sheibani Mohammed Faraj Dghaim, "Al Jami'a Al Libiya fi Eidi'a Al Khamseen: Safha Mushriqa fi tarikh Libia", Al Jamei Magazine, No.10, Al-fateh 2005, Al Fateh University. Cyrene, a bulletin issued by U.of Libya because of founding the new campus at 6 Oct. 1968.
Garyounis University – Idarat Ash Shu'un at Tullabiya, "Nashra Ihsa'iya bi Adad al Khirijeen munthu ta'sees al Jame'a hatta amm 1982". Media related to University of Libya at Wikimedia Commons
University of Southampton
The University of Southampton is a research university located in Southampton, England. The university's origins date back to the founding of the Hartley Institution in 1862. In 1902, the Institution developed into the Hartley University College, awarding degrees from the University of London. On 29 April 1952, the institution was granted full university status, allowing it to award its own degrees. Southampton is a founding member of the Russell Group of research-intensive universities in Britain. In the most recent Research Excellence Framework the university was ranked 18th in the United Kingdom for average quality of research submitted, 11th for research power and 8th for research intensity; the university has seven teaching campuses. The main campus is located in the Highfield area of Southampton and is supplemented by four other campuses within the city: Avenue Campus housing the Faculty of Humanities, the National Oceanography Centre housing courses in Ocean and Earth Sciences, Southampton General Hospital offering courses in Medicine and Health Sciences, Boldrewood Campus an engineering and maritime technology campus housing the university's strategic ally Lloyd's Register.
In addition, the university operates a School of Art based in nearby Winchester and an international branch in Malaysia offering courses in Engineering. Each campus is equipped with its own library facilities; the University of Southampton has 17,535 undergraduate and 7,650 postgraduate students, making it the largest university by higher education students in the South East region. The University of Southampton Students' Union, provides support and social activities for the students ranging from involvement in the Union's four media outlets to any of the 200 affiliated societies and 80 sports; the university owns and operates a sports ground at nearby Wide Lane for use by students and operates a sports centre on the main campus. The University of Southampton has its origin as the Hartley Institution, formed in 1862 from a benefaction by Henry Robinson Hartley. Hartley had inherited a fortune from two generations of successful wine merchants. At his death in 1850, he left a bequest of £103,000 to the Southampton Corporation for the study and advancement of the sciences in his property on Southampton's High Street, in the city centre.
Hartley was an eccentric straggler, who had little liking of the new age docks and railways in Southampton. He did not desire to create a college for many but a cultural centre for Southampton's intellectual elite. After lengthy legal challenges to the Bequest, a public debate as to how best interpret the language of his Will, the Southampton Corporation choose to create the Institute. On 15 October 1862, the Hartley Institute was opened by the Prime Minister Lord Palmerston in a major civic occasion which exceeded in splendor anything that anyone in the town could remember. After initial years of financial struggle, the Hartley Institute became the Hartley College in 1883; this move was followed by increasing numbers of students, teaching staff, an expansion of the facilities and registered lodgings for students. In 1902, the Hartley College became the Hartley University college, a degree awarding branch of the University of London; this was after inspection of the teaching and finances by the University College Grants Committee, donations from Council members.
An increase in student numbers in the following years motivated fund raising efforts to move the college to greenfield land around Back Lane in the Highfield area of Southampton. On 20 June 1914, Viscount Haldane opened the new site of the renamed Southampton University College. However, the outbreak of the First World War six weeks meant no lectures could take place there, as the buildings were handed over by the college authorities for use as a military hospital. To cope with the volume of casualties, wooden huts were erected at the rear of the building; these were donated to university by the War Office after the end of fighting, in time for the transfer from the high street premises in 1920. At this time, Highfield Hall, a former country house and overlooking Southampton Common, for which a lease had earlier been secured, commenced use as a halls of residence for female students. South Hill, on what is now the Glen Eyre Halls Complex was acquired, along with South Stoneham House to house male students.
Further expansion through the 1920s and 1930s was made possible through private donors, such as the two daughters of Edward Turner Sims for the construction of the university library, from the people of Southampton, enabling new buildings on both sides of University Road. During World War II the university suffered damage in the Southampton Blitz with bombs landing on the campus and its halls of residence; the college decided against evacuation, instead expanding its Engineering Department, School of Navigation and developing a new School of Radio Telegraphy. Halls of residence were used to house Polish and American troops. After the war, departments such as Electronics grew under the influence of Erich Zepler and the Institute of Sound and Vibration was established. On 29 April 1952, Queen Elizabeth II granted the University of Southampton a Royal Charter, the first to be given to a university during her reign, which enabled it to award degrees. Six faculties were created: Arts, Engineering, Economics and Law.
The first University of Southampton degrees were awarded on 4 July 1953, following the appointment of the Duke of We
The United Kingdom the United Kingdom of Great Britain and Northern Ireland, sometimes referred to as Britain, is a sovereign country located off the north-western coast of the European mainland. The United Kingdom includes the island of Great Britain, the north-eastern part of the island of Ireland, many smaller islands. Northern Ireland is the only part of the United Kingdom that shares a land border with another sovereign state, the Republic of Ireland. Apart from this land border, the United Kingdom is surrounded by the Atlantic Ocean, with the North Sea to the east, the English Channel to the south and the Celtic Sea to the south-west, giving it the 12th-longest coastline in the world; the Irish Sea lies between Great Ireland. With an area of 242,500 square kilometres, the United Kingdom is the 78th-largest sovereign state in the world, it is the 22nd-most populous country, with an estimated 66.0 million inhabitants in 2017. The UK is constitutional monarchy; the current monarch is Queen Elizabeth II, who has reigned since 1952, making her the longest-serving current head of state.
The United Kingdom's capital and largest city is London, a global city and financial centre with an urban area population of 10.3 million. Other major urban areas in the UK include Greater Manchester, the West Midlands and West Yorkshire conurbations, Greater Glasgow and the Liverpool Built-up Area; the United Kingdom consists of four constituent countries: England, Scotland and Northern Ireland. Their capitals are London, Edinburgh and Belfast, respectively. Apart from England, the countries have their own devolved governments, each with varying powers, but such power is delegated by the Parliament of the United Kingdom, which may enact laws unilaterally altering or abolishing devolution; the nearby Isle of Man, Bailiwick of Guernsey and Bailiwick of Jersey are not part of the UK, being Crown dependencies with the British Government responsible for defence and international representation. The medieval conquest and subsequent annexation of Wales by the Kingdom of England, followed by the union between England and Scotland in 1707 to form the Kingdom of Great Britain, the union in 1801 of Great Britain with the Kingdom of Ireland created the United Kingdom of Great Britain and Ireland.
Five-sixths of Ireland seceded from the UK in 1922, leaving the present formulation of the United Kingdom of Great Britain and Northern Ireland. There are fourteen British Overseas Territories, the remnants of the British Empire which, at its height in the 1920s, encompassed a quarter of the world's land mass and was the largest empire in history. British influence can be observed in the language and political systems of many of its former colonies; the United Kingdom is a developed country and has the world's fifth-largest economy by nominal GDP and ninth-largest economy by purchasing power parity. It has a high-income economy and has a high Human Development Index rating, ranking 14th in the world, it was the world's first industrialised country and the world's foremost power during the 19th and early 20th centuries. The UK remains a great power, with considerable economic, military and political influence internationally, it is sixth in military expenditure in the world. It has been a permanent member of the United Nations Security Council since its first session in 1946.
It has been a leading member state of the European Union and its predecessor, the European Economic Community, since 1973. The United Kingdom is a member of the Commonwealth of Nations, the Council of Europe, the G7, the G20, NATO, the Organisation for Economic Co-operation and Development and the World Trade Organization; the 1707 Acts of Union declared that the kingdoms of England and Scotland were "United into One Kingdom by the Name of Great Britain". The term "United Kingdom" has been used as a description for the former kingdom of Great Britain, although its official name from 1707 to 1800 was "Great Britain"; the Acts of Union 1800 united the kingdom of Great Britain and the kingdom of Ireland in 1801, forming the United Kingdom of Great Britain and Ireland. Following the partition of Ireland and the independence of the Irish Free State in 1922, which left Northern Ireland as the only part of the island of Ireland within the United Kingdom, the name was changed to the "United Kingdom of Great Britain and Northern Ireland".
Although the United Kingdom is a sovereign country, Scotland and Northern Ireland are widely referred to as countries. The UK Prime Minister's website has used the phrase "countries within a country" to describe the United Kingdom; some statistical summaries, such as those for the twelve NUTS 1 regions of the United Kingdom refer to Scotland and Northern Ireland as "regions". Northern Ireland is referred to as a "province". With regard to Northern Ireland, the descriptive name used "can be controversial, with the choice revealing one's political preferences"; the term "Great Britain" conventionally refers to the island of Great Britain, or politically to England and Wales in combination. However, it is sometimes used as a loose synonym for the United Kingdom as a whole; the term "Britain" is used both as a synonym for Great Britain, as a synonym for the United Kingdom. Usage is mixed, with the BBC preferring to use Britain as shorthand only for Great Britain and the UK Government, while accepting that both terms refer to the United K
Libya the State of Libya, is a country in the Maghreb region in North Africa, bordered by the Mediterranean Sea to the north, Egypt to the east, Sudan to the southeast, Chad to the south, Niger to the southwest, Algeria to the west, Tunisia to the northwest. The sovereign state is made of three historical regions: Tripolitania and Cyrenaica. With an area of 1.8 million square kilometres, Libya is the fourth largest country in Africa, is the 16th largest country in the world. Libya has the 10th-largest proven oil reserves of any country in the world; the largest city and capital, Tripoli, is located in western Libya and contains over one million of Libya's six million people. The second-largest city is Benghazi, located in eastern Libya. Libya has been inhabited by Berbers since the late Bronze Age; the Phoenicians established trading posts in western Libya, ancient Greek colonists established city-states in eastern Libya. Libya was variously ruled by Carthaginians, Persians and Greeks before becoming a part of the Roman Empire.
Libya was an early centre of Christianity. After the fall of the Western Roman Empire, the area of Libya was occupied by the Vandals until the 7th century, when invasions brought Islam to the region. In the 16th century, the Spanish Empire and the Knights of St John occupied Tripoli, until Ottoman rule began in 1551. Libya was involved in the Barbary Wars of the 19th centuries. Ottoman rule continued until the Italian occupation of Libya resulted in the temporary Italian Libya colony from 1911 to 1947. During the Second World War, Libya was an important area of warfare in the North African Campaign; the Italian population went into decline. Libya became independent as a kingdom in 1951. A military coup in 1969 overthrew King Idris I; the "bloodless" coup leader Muammar Gaddafi ruled the country from 1969 and the Libyan Cultural Revolution in 1973 until he was overthrown and killed in the 2011 Libyan Civil War. Two authorities claimed to govern Libya: the Council of Deputies in Tobruk and the 2014 General National Congress in Tripoli, which considered itself the continuation of the General National Congress, elected in 2012.
After UN-led peace talks between the Tobruk and Tripoli governments, a unified interim UN-backed Government of National Accord was established in 2015, the GNC disbanded to support it. Parts of Libya remain outside either government's control, with various Islamist and tribal militias administering some areas; as of July 2017, talks are still ongoing between the GNA and the Tobruk-based authorities to end the strife and unify the divided establishments of the state, including the Libyan National Army and the Central Bank of Libya. Libya is a member of the United Nations, the Non-Aligned Movement, the Arab League, the OIC and OPEC; the country's official religion is Islam, with 96.6% of the Libyan population being Sunni Muslims. The Latin name Libya referred to the region west of the Nile corresponding to its central location in North Africa visited by many Mediterranean cultures which referred to its original inhabitants as the "Libúē." The name Libya was introduced in 1934 for Italian Libya, reviving the historical name for Northwest Africa, from the ancient Greek Λιβύη.
It was intended to supplant terms applied to Ottoman Tripolitania, the coastal region of what is today Libya having been ruled by the Ottoman Empire from 1551 to 1911, as the Eyalet of Tripolitania. The name "Libya" was brought back into use in 1903 by Italian geographer Federico Minutilli. Libya gained independence in 1951 as the United Libyan Kingdom, changing its name to the Kingdom of Libya in 1963. Following a coup d'état led by Muammar Gaddafi in 1969, the name of the state was changed to the Libyan Arab Republic; the official name was "Socialist People's Libyan Arab Jamahiriya" from 1977 to 1986, "Great Socialist People's Libyan Arab Jamahiriya" from 1986 to 2011. The National Transitional Council, established in 2011, referred to the state as "Libya"; the UN formally recognized the country as "Libya" in September 2011, based on a request from the Permanent Mission of Libya citing the Libyan interim Constitutional Declaration of 3 August 2011. In November 2011, the ISO 3166-1 was altered to reflect the new country name "Libya" in English, "Libye" in French.
In December 2017 the Permanent Mission of Libya to the United Nations informed the United Nations that the country's official name was henceforth the "State of Libya". The coastal plain of Libya was inhabited by Neolithic peoples from as early as 8000 BC; the Afroasiatic ancestors of the Berber people are assumed to have spread into the area by the Late Bronze Age. The earliest known name of such a tribe was the Garamantes, based in Germa; the Phoenicians were the first to establish trading posts in Libya. By the 5th century BC, the greatest of the Phoenician colonies, had extended its hegemony across much of North Africa, where a distinctive civilization, known as Punic, came into being. In 630 BC, the ancient Greeks colonized the area around Barca in Eastern Libya and founded the city of Cyrene. Within 200 years, four more important Greek cities were established in the area that became known as
Central Bank of Libya
The Central Bank of Libya is the monetary authority in Libya. It has the status of an autonomous corporate body; the law establishing the CBL stipulates that the objectives of the central bank shall be to maintain monetary stability in Libya and to promote the sustained growth of the economy in accordance with the general economic policy of the state. The headquarters of the Central Bank are in Tripoli. However, to make the CBL services more accessible to commercial banks and public departments located far from the headquarters; the CBL has three branches, located in Benghazi and Sirte. In March 2011, the governor of CBL, Farhat Bengdara and defected to the rebelling side of the Libyan Civil War, having first arranged for the bulk of external Libyan assets to be frozen and unavailable to the Gaddafi government; as of September 2011, the bank's governor is Kassem Azzuz. The CBL was founded in 1955 under Act no. 30 started its operations on 1 April 1956 under the name of National Bank of Libya, to replace the Libyan Currency committee, established by the United Nations and other supervising countries in 1951 to ensure the well being of the weak and poor Libyan economy.
The primary aims of the Libyan Currency committee were to assist Libya in creating a unified currency in all three provinces. The Bank's name was changed to Bank of Libya under Act no. 4 to its current name Central Bank of Libya after the 1969 coup d'état. The governing structures of the Bank are: The Governor; the Deputy Governor. The Governing Council. Management of the general affairs of the Bank within the policies of the country is entrusted to a board of directors consisting of the governor as chairman, deputy governor as vice-chairman, six other members, who represent other financial and economic interests; the tasks of the governor include: Direct the Bank and preside over the governing council and executive commission. Take primary responsibility for the Bank fulfilling its responsibilities and for doing so in a lawful manner; the governor has ultimate authority over bank contracts and other legal documents The Bank's representation before tribunals of justice. The representation of the Bank in all its relations with other parties.
This is list a governors of The Central Bank of Libya since its establishment. |29 يناير 2018 The Bank endured twice an administration split, first during the first civil war from September 2014 on, as a result of the ongoing civil war. The functions of the CBL have grown since its establishment, now include the following: Issuing and regulating banknotes and coins in Libya. Maintaining and stabilizing the Libyan currency Internally and Locally. Maintaining and managing the official reserves of gold and foreign exchange. Regulating the quantity and cost of credit to meet the requirements of economic growth and monetary stability. Taking appropriate measures to deal with foreign or local economic and financial problems. Acting as a banker and fiscal agent to the state and public entities. Advising the state on the formulation and implementation of financial and economic policy. Supervising foreign exchange. Carrying out any other functions or transactions performed by central banks, as well as any tasks charged to it under the Law of banking and currency and credit or any international convention to which the state is a party.